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John Molloy Donovan

Obituary
  • ""I will not leave you comfortless:I will come to..."

A Mass for township resident John Molloy Donovan was offered Dec. 30 at St. Rose of Lima Church in Short Hills.

Mr. Donovan died Dec. 24 at his township home.

Born in New York City, he attended Incarnation School in Washington Heights and Power Memorial High School, both located in New York City. He was a 1952 graduate of Colgate University, where he played football and was a member of the Theta Chi fraternity. As an alumnus he was a member of Colgate's President's Club, a Maroon Citation recipient, a William Brian Little Award recipient for distinguished service to the university, and a member of the James B. Colgate Society.

Following college he joined the U.S. Navy and served on the USS Haynesworth as an officer during the Korean Conflict. Upon completion of his military service, Mr. Donovan enrolled in New York University's master of business administration program, earning a master's degree in 1957.

His professional career started at Crucible Steel in Pittsburgh, Pa. He went on to take a position at Mellon Bank, Pittsburgh, in its municipal sales and trading department. He moved back to New York City in 1962 as part of Mellon's expansion of its New York municipal presence. Several years later he joined Lehman Brothers as a municipal sales person. In 1970 he joined Salomon Brothers' municipal sales and trading department where he served as a sales manager. He was made a partner in 1979, and later left the sales and trading group to lead the municipal finance department, which he ran until 1987.

During his time at Salomon Brothers, Mr. Donovan worked on many public projects including the New York City fiscal crisis in the early 1970s where his efforts, along with those of others, staved off bankruptcy and fiscal collapse for the city. He completed his career at Dean Witter Reynolds as the head of municipal finance, where he worked until his retirement in 1992.

In retirement, he spent time between his homes in Millburn Township, Quogue, N.Y. and Hobe Sound, Fla. He was a member of Canoe Brook Country Club in Summit, Westhampton Country Club in Westhampton Beach, N.Y., and Loblolly Pines in Hobe Sound, Fla. He served as the president of the Loblolly Bay Association during which time it merged with Loblolly Pines to form Loblolly.

Mr. Donovan is survived by his wife, Patti; two sons, Richard and William; a daughter, Mary-Joan Buckley; and five grandchildren.

In lieu of flowers, donations in Mr. Donovan's memory may be made to St. Patrick's Cathedral at www.saintpatrickscathedral.org.


Published in The Item of Millburn and Short Hills on Jan. 8, 2014
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